Orlando gained almost 61,000 new residents in 2020, which is the most in the past 5 years. Reasons include COVID flight and the desire to own a second home along with our state’s business friendly regulations.
With the influx of new homeowners, we have a high number of buyers. In addition, we are experiencing a period of low interest rates and low inventory. Inventory is down significantly from a year ago.
Buyers should be pre-approved and ready to make an offer on a home they like because the competition for homes is fierce.
Inventory is down 40% from this time last year. It’s a good time to have a seasoned real estate professional guiding you through the buying and selling experience.
The median sales price for January 2021 was $275,000, up 12% from January of 2020. Homes spent an average of 40 days on the market, which is a drop of 33% from 2020.